MPLX To Acquire Andeavor Logistics In Unit-for-unit Deal
(RTTNews) - MPLX LP (MPLX) agreed to acquire Andeavor Logistics LP (ANDX) in a unit-for-unit transaction, which represents an equity value of about $9 billion.
The transaction is expected to close in the second half of 2019.
As per the terms of the merger agreement, ANDX public unitholders will receive 1.135x MPLX common units for each ANDX common unit held, representing a premium of 7.3%, and Marathon Petroleum Corp. (MPC) will receive 1.0328x MPLX common units for each ANDX common unit held, representing a 2.4% discount.
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